The Ken & Lynne Morrison CharitabIe Trust
Trustees, report and fmancial statements
Registered number 1125586
5 April 2024

The Ken & Lynne Morri￿￿ Charitsble Trust
Trustees, report and financial ststements
5 April 2024
Contents
Trustees, report
Statement of trustees. Yesponsibilities in respe¢t of the Trustees, report and the financial statements
Independent auditor's report to the members of The K¢n and Lynne Morrison Charitabl¢ Trust
Statement of financial activities
Balance sheet
io
Cash Flow Statement
Notes
12
Registered nutnber 1125586 1 S April 2024

The Ken & Lynne Motrison Charitsblc T]usl
Trnste¢s' report and financial staternents
5 April 2024
Trustees. report
Reference and administrative details
Trustee5
Lady Lynne Christina Morrison
Andrea Shelley
Governing dotument
Deed of Trust dated 28 March 2008
Registered address
Myton Hall
Myton on Swale
York
Y0612QX
Bankers
Caler Allen Private Bank
PO Box 826
Bradford
BDI SUL
Auditor
Robert Whowell & Parthers LLP
Westwood House
78 Lou8hborou8h Road
Quorn
Leicestershire
LE12 8DX
Solicitors
Gordons LLP
Riverside West
Whitehall Road
Leeds
LSI 4AW
Investment MAnAgers
LGT Wealth Managernent Limited
14 Cornhill
London
EC3V 3NR
Registered number 1125586 15 April 2024

ThE Ken & Lynne Morrison Charitable Trnst
Twstees. report 8nd fmancial stat¢Tnents
S April 2024
Trustees, report (conlinued)
The twstees present their report along wilh the finan¢ial stst¢m¢nts for ih¢ year ended 5 April 2024. The financial
statements have be¢n prepared in accordance with the accounting poli¢ies set out on pages 12-13 and comply with the
trust deed. Charities Act 2011 and Accounting and Teporting by Charities.. Statement of Recommended Practice in
accordance with the Financial Reporting Standard I02 applithle in lh¢ UK and Republic of Ireland (FRS 102}.
Principal risks and uncertsinties
Finall¢ial risk mgng2ement obj¢etives and poli¢ies
Th¢ Trust uses financial instruments comprising cash and investments. The main purpose of these is to finance the
working capital of the Trust and the longer-tern] income and capilal needs.
The Trust considers rnovements in investment prices and returns to be its main risk. This risk is mitigated by using an
investment fund manager and having a div¢rsified inv¢stm¢nt portfolio.
Obj¢ctjveg And Activities
The objectives of the trustees are to apply the incoming resources of the Trust by making grants for th¢ beAefit of one
or more Gharitable institutions or individuals, including but not restricted to people with a disability or special needs,
education. training or for such other charitable purposes at the trustees. discretion. The capital may be applied for
Charitable purposes or retained by the trustees at iheir discretion.
The trustees identify projects and organisations they wish to support. Requests from people ororganisations who apply
speculatively will be considered if they are pertinent to the Trust's objectives. Unsolicited requests from national
charities will generally only be considered if there is some public benefit to the Yorkshire region. The trnst¢es a150
have a policy that Ihey make only one-off grants with no guarantees of future fundin8.
The ¢harity does not carry out fundraising activities.
Publi¢ benefit
The trustees ￿e aware of the Charity Commission's advice on Charities Public Benefit. The trustees confim) that
they have referred to the guidan¢¢ Contained in the Charity Commission's general guidance on publi¢ benefit when
reviewing the Trust's aims and objectives and in planning future activities and setting ihe grant making policy for the
ye8r. The tsustees do not discriminate against any paty when considcring their gTant moking policy.
Thc bcnefits of the charitablc activitics of thc Tnist arc primarily to a section of the publi¢ in accordan¢e with the
charitable objects described above in the trustee's objectives and activilies,
Achievements and performance
a) Review of activities and financiAI review
The main activity in the year is grant making. During the year the trustees made, or committed to rnaking. grants
totalling £201,003 {2023". £307.016). There were 4 Brants made or committe¢ of value between £3.003 and £lOO,000.
The list of grants is detailed in notr 3.
The donations were made to a variety of charitable institutions. A brief description of three of the largest donations
are as follows:
A grant of £lOO,000 was made Éo Centrepoint. The grant W&8 used to fund a full-time psyGhotherapist and a Training
Manager role. This will benefit the public by enabling Centrepoint to provide homeless young people with
accommodation, health support and life skills in order to get them back into education, trainin& and employment.
A grant of £50,000 was made to Bradford LIteratu￿ Festival to support the delivery of the event held in June & July
2024. Bryadford Literature Festival is one of the top three largest literature festivals in the UK and is Europe's most
div¢r5e literature festival.
A grant of £48,000 Wds made to Marie Curie (Brddford Hospice). The grant was used towards their nursing setvice in
the Marie Curie Bradford Hospice to enable the Hospi￿ to fund two arie Curie Nurse. This will benefit the public
by enabling Marie Cure Bradford Ilospice to provide specialist care and support to those living with atenninal illness,
and their families.
Registered number 1125586 15 April 2024

The Ken & Lynn¢ Morrison Charitable Trust
Trnstees. rewrt and fllwicial slai¢ments
5 April 2024
Trustee's report (continued)
Total income exceeded expenses in the year by £265.645 (2023..£198,072).
Other investment gains (both Tealised and unrealised) amounted lo £1,201,664 Q023.' inves¢meni losses of£l,443589)
to give an overall increase in funds of £1.467.309 (2023.. decretue infynd¥ of£l245,517).
b) Investment poliey And perform#llee
The Trust's investment policy seeks to achieve a balanced return from income and Capital appreciation whilst
controlling th¢ level of risk.
The investment income was £539,401 Q023.. £576,701} and th¢r¢ was an Inc￿ in the value of the investments over
the year of £1.201,664 (2023.. deCre￿e in value of InV￿lMen¢S of£l.443,589).
The results for the year ore given on page 9. The trustees consider the results for ihe year to be SatiSf￿tOry given
current market conditions.
The sour¢e of fjjnding for the Trust during the year ended 5 April 2024 is the above investment income of £539,401.
¢) Plans for future periods
It is the intenlion of the trustees that the income of investments from the expendable endowment fund will be used for
ch8ritable purposes in accordance with the objectives and strategies of the Trust.
As the charity's 8rant making is ￿nded out of income froEn the endowment fund the charity does not undertoke any
fundraising activities and th¢r¢fore does not hav¢ a fundraising policy.
The grant making policy of the charity includes small donations (on application) to causes within the objective5 and
also larger donations to projects or organisations ihat ihe trustee5 have identified. The plan for the ￿tllre is to donate
as much as possible, to deserving applicants, lo a level that broadly marches the annual incxsme received, thus enabling
the Trust's ￿ndS to be maintained at a steady level.
Other polleles
a) Reserves polley
The trustees intend to distribute the net incoming Tcsoufc¢5, which relate to investment income and realised
gainsllosses, arising ftom yearto year, alihough ihe trustees have the pow¢r to accumulate all or part of such incoming
rcsources for investment purposes as they see fit.
The charity reeeived a donation of £9,536,460 in the year ended 5 April 2009 as an expendable endowment fund
which will provide an annual income to support activities and cover administrdtion 8nd support costs. The endowed
funds have increased over the years from capital appreciation.
Free reserves forihe trust total £1,707,312 Q023.. £1,433244) being the unrestrictcd fvnds of the charity, Free reserves
have inGrea5ed by £274,068 as income and reali5ed gain5 exceeded totsl expenditure.
The cost of running the charity each year is estimated at £75,000. The ¢urrent level of free re5erYes exceeds the annual
cost of ￿nn1rt8 the Charity however as noted above ihe trustees have the power to accumulate the incoming rescrves
for investtnent purposes or grants and donations.
b) Prineipal funding
The trustees are satisfied that the Trust's assets are available and adequate to fulfil its obligations.
Registered number 11255861 S April 2024

The Ken & Lynne Morrison Charitable Trnst
TTUStees' report and financial statenjents
5 April 2024
Trustees, report (continued)
Structur4 governance, 2nd management
2) Constitution
The Ken & Lynne Morrison Charitable Trust is an unincoryx)rated chariry (registered charity nurnber 1125586)
estsblish¢d under a Trust Deed dated 28 March 2008.
b) Method of appointment or el¢¢tion of trustees
The power of recNiting and appotnting ￿tllre trnstees. vests with the Current twstees. The current trustees are listed
on page l.
e) Polieies adopted for the inductlon
The trustees a￿ mindful of iheir duties in connection with the induction and training for trusle¢s and the trustees are
undertaking appropriate training and advice in relation to being a charitable trustee.
d) Organisation structure And decision making
At annual tnjstees, meetings, the trustee5 collectively agree thc broad gtrat¢gy and are&s of ￿tIvIty for the TrusL
including those of grant making, investment and risk management.
The trustees are empowered by the Trust Deed to apply the income of th¢ Trust for any charitable purpose they think
fit subject to the objects of the Tn￿t.
The trustees have the same full and unrestri¢ted powers of investing and transferring investmenls as if they are
beneficially entitled to ihe Trust Fund.
e) Key management personnel remunerat5on
The Trustees ￿e responsible for the day to day running of the Th]st and are deemed to act as key management
personnel. No tDJStees, or person with a fornily or business connection with a trnstee, received remuneration in the
year, directly or indirectly. from the Trust (2023: £nil).
Q Rlsk management
The truslees have reviewed the eff¢¢tiveness of internal controls and are happy with the controls in place given the
simple nature of the Trust. There is also currently no need for an internal audit function given the straightfornard
nature of the Trust.
Dis¢losure of inforniation to auditor
The truslees who held office at the date of approval of this Trustee5' report Confinn that, so far as they are eack aware,
there is no relevant audit inforniation of which the Trust's audilor is unaware: and each trustec has taken all the steps
that they ought to have taken as a truste¢ to make thcThselves aware of any relevant audit inforniation and to establish
Ihat the Tn￿t'S auditor is aware of that inforniation.
By order of the board
Lady Lynne Christina Morrison
Tiuslee
3<(J5X&kw 2024
Alylon Hall
Afylon on Swale
Helperby
York
Y0612QX
Registered oumber 1125586 15 April 2024

The Ken & Lynne Morrison Charitable Trnst
Ttwtees. report and financial sial¢m¢nis
5 April 2024
Statement of T￿￿tee$, responsibitities in respect of the Trustees, report and the
financial statements
Under the trust deed and charity law, the trustees are responsible for preparing the Tn￿te¢s, Report and the finan¢ial
statements in aGGordanGe with applicable law and regulations. The tn￿teeS have elected to prepare the financial
ststements in accordance with UK Accounting Standards, including FRS 102 The Finan¢iol Reporling Siandard
applicable in the UK and Republic oflreland.
The financial ststements are required by law to give a Irue and fair view of the state of affairs of the charity and of the
income that exceeds expenditure in 2024.
In preparing these financial statements, generally accepted accounting practice entails that the trustees:
select suitable 2c¢ountir)g policies and then apply them consistentlyi
make judgements And estimates that are reasonable and prudent.
state whether applicable UK Acwunting Standards and th¢ Statement of Recommended Practi¢e have been
followed. subject to any material departures disclosed and explained in the financial statements,
state whetherthe financial statements comply with the trust deed, subject to any rnaterial departures di￿lOSed
and explained in the financial statements;
assess the charity's ability to continue as a goin8 concern, disclosing* as applicable, matters related to going
concern. and
use the going concern basis of accounting unless they either intend to liquidate the charity or to cease
operations, or have no realistic alternative but to do so.
The trustees are required to act in accordance with the trust deed of the charity, within the framework of trust law.
They are responsible for keeping proper ac¢ountin8 records, sufficient to disclose at any lime, with reasonable
a¢¢uraey, the financial position of the charity at that time, and to enable the trustee5 to ensure thal, where any
statements of accounts are prepared by them under section 132(l) of the Charities Act 2011, those siatements of
accounts comply with the requirements of regulations under that provision. They Are responsible for such internal
control as they delennine is necessary to enable the preparation of finanGiai staternents that are free from maierial
misstatement. whether due to fraud or error. and have gencrdl responsibility for taking such steps as are reasonably
open to them to safeguard the assets of the charity and to prevent and detect fraud and other irregularities.
Registere¢I number 1125586 15 April 2024

Independent auditor's report to the Trust￿ of Ken & Lynne Morrison Charitsble Trust
Opinion
We have audited the financial statements ofKen & Lynnemorrison CILariiable Trust C'the charity") for the year ended
5 April 2024 whi¢h comprise the Statement of financial activitie4 Balance sheeL Cash flow statement and related
notes, including the accountinE policies in note l.
In our opinion the financial statements:
give a true and fair vlew of the state of the charity's affairs as at 5 April 2024 and of its incoming resources and
application of resources for the year then ended;
have been properly prepared in accordance with UK accounting standards, including FRS 102 The Financial
Reporling Standardapplicable in the UK andRepublic ofjreland. and
have been properly prepared in a¢¢ordan¢e with the requirements of th¢ Charities Act 2011.
Basls for oplnlon
We have been appointed as auditor under section 144 of the Charitie5 Act 2011 (or its predecessors) and report in
accordance with regulations made under section 154 of that Act.
We conducted our audit in accordance with International Standards on Auditing (UK) ("ISAs (UK)") and applicable
law. Our responsibilities are described below. We have fulfilled our ethical responsibiliti¢s under, and are
independent of the charity in aco)rdan¢¢ with. UK ethical requirements including the FRC Ethical Standard. We
believc that the audit evidence we have obtained is a sufficient and appropriate basis for our opinion.
Conelusions rel*ting to going eoocern
n auditing the financial statements, we have concluded ihat the trustees, use of the going concern basis of accounting
in the preparation of the financial staternents is appropriate.
Based on the work we have perfornied. we have not identified any materiat uncertainties relating to events or
conditions th&t, individually or collectively, rnay cast significant doubt on the charity's ability to continue as a going
oncern for a period of at least twelve months fiom when the financi￿ ststements are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respe¢t to 80ing concern are described in the relevant
sections of this report.
Other information
The trustee5 are responsible for the other infotrnation, which comprises the Thistees. Report. Our opinion on the
financial statements does not cover the other inforniation and. accordingly. w¢ do not express an audit opinion or,
exccpt as explicitly stated below, any form of assuran¢e conclusion thereon.
Our responsibility 15 to read the oth¢r infomiation and. in doing so, consider whether. based on our finan¢ial stalernents
audit work, the infomation therein is materially misstated ¢x inconsistent with the financial stst¢ments or our audit
knowledge. We are required to report to you if:
based solely on that work. we have identified rnaterial misstaternents in the other infonnation; or
in our opinion, the infomiation given in the Trustees, Report is inconsistent in any material respect with the
financial staternents.
We have nothing to report in these respects.

Independent auditor's report to the members of The Ken and Lynne Morrison Charitable Trust (con(inNgd)
Matters on which we are required to report by exteption
Under the Charities A¢t 2011 we are required to Teport to you if, in our opinion:
the charity has not kept sulTIcient accounting records; or
the financial statements not in agreement with the accounting records: or
we have not received all the inforniation and explanations we require for our audit.
We have nothing to report in these respects.
Trustees, responsibilities
As explained more fully in their statement set out on page 5. th¢twst¢es ar¢ Tesponsible for: the preparation of financial
statemcnts which give a true and fair vi¢w- such internal control as they determine is necessary to enable the
preparation of financial statemenls that are free from material misstatemenL whether due to fraud or error, assessing
the charity's ability to continue as a going concern. disclosing. as applicable, matters related to going conGem' and
using the going ¢on¢ern basis of accounting unless they either intend to liquidate the charity or to ¢ease operations, or
have no realistic aLternative but to do so.
Auditor's rtsponslb51ities
We have been appointed as auditor under 5eGtion 145 of the ChaTities Act 2011 and report in accordance with
regulations made under section 154 of the a¢1.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from
material misstatemenL whether due to fraud or error, and to issue our opinion in an auditor's report that includes our
opinion.
Reasonable assurance is a high level of assurance but does not guardntee that an audit Lx)nducted in accordance with
ISAS (UK) will alway5 detect a material misstatement when it exists. Misstatements can arise from fraud or error and
are considered material if, individuAlly or in aggregate, they could reasonably be expected to influence the econorni¢
decisions of users taken on the basis of the financial staternents.
Irregulgrities, including fraud. are instances of non-compliance with laws and r¢gulation$. We design procedures in
in¢ with our responsibilities, Outlined above. to detect material misst8tements in Te5pect of irregularities. including
fraud. The extent to which our procedures are capable of deie¢ting 1rre8ul8riti￿. including fraud, is detailed below.
Extent to which the audit was considered e2p8ble of detecting irregularities
We identify and assess the risks of material misstatement of the financial sts*m¢nts. whether due to fraud or error,
And then design and perforni audit procedures responsive to those risks, in¢luding obtaining audit evidence that is
sufficient and appropriate to provide a basi5 for our opinion. However. responsibility for the prevention and d¢te¢tion
of fraud ultimately rests with both those ¢haTged with governance and managem¢nt of thc charity.
In identifying and assessing risks of material misstatement in respect of I￿C8u1aT1ties, including fraud and non-
complianc¢ with laws and regulations, our procedures included the following:
obtaining an understanding of the legal and regulatory framework applicable to the charity by Considering the
nature of the industy in which Ihe charity operdtes and enquiring of managemenL and
identifying the key laws and regulations considered io have a direct impact on the financial ststem¢nts including
UK Charities Act 2011, UK Generally A¢¢epted A¢¢ounting Practice and UK tax legislation.
assessing how the charity is complying with the applicable legal and regulatr)ry framework by making further
enquiries of management and observing the charity'5 control environment regarding cornpliance with regulations
and fraud prevention. and
assessing the susceptibility of the charity's financial ststements to material misstatemen¢ including how fraud
might occur, by ¢onsidering the effectiveness of the charitys accounting systems and controls and how these
were monitored by management. Where the risk of material misstatement was considered to be higher in certain
, further audit procedures were designed to address this increased risl and

Independent auditor's report to th¢ Members of The Ken and Lyllne Morrison Charitable Trust (conlinmedj
discussing amongst the engagement team how and where fraud might occur in the financial statements and any
potential indicators of fraud.
Audit response to risks of irregularities identified
Our procedures to respond to risks idenlifjed included the following:
reviewing financial sL*ement disclosures and testing to supporting documentation ￿ assess compliance with
applicable laws and regulations. and
enquiry of charity's S￿retsry responsible for Complian￿ to identify any instances of non compliance with
laws and regulation5- and
enquiry of managemenL those charged with governancc and other relevant parties around actual and
potential litigation claims :and
reviewing minutes of meetings of those charged with governance; and
perforning audit work over the risk of management ove￿Ide of coTJtrols, includin8 rationale of signifiC￿t
transactions outside the nornial course of the objective5, and reviewing accounting estimates for bias. and
communicating identified laws and regulations and potential fraud risks to all engagement team members
and assessing whether there are any indications of fraud or non-compliance with laws and re8ul&ions
throughout the audit.
Because of the inherent limitations of an audiL there is a risk that we will not detect all irregularities, including those
leading to a material rnisstatement in the financial statements or non-compliance with regulation. This risk increases
the more that complian¢e with a law or regulation is removed from the events and transactions reflect¢d in the financial
statements, as we will be less likely to become aware of instances of non-compliance. The risk is a150 greater regarding
irregularities occurring due to fraLLd rather than error, as fraud involves intentional concealrnenL forgery. collusion,
omission or misrepresentation.
A further description of our responsibilities is available on the FRCS websste at." htt s".Ilwww.frc.or
.uklaudilorsl
audit-assurancelauditor-s-res
nsibilities-for-the-audit-of-the-fddescri
tion-of-the-auditoelc E2Yo801AI 99
onsibilities-f
This description fomis part of our auditotrs ieporL
Use of oyr report
This report is made solely to the chartty's trustees as a body. in accordancc with section 144 of the Charities Act 2011
(or its predecessors) and regulations made under section 154 of that Acl. Our audit work has been undertaken so that
we might state lo the charity's trustees those matters we are required to state to them in an auditor's report and for no
other purpose. To the fijllest extent pemiitted by18w. we do not accept or assumc rcsponsibilily lo anyone other than
th¢ ¢harity and its trustees as a body, for our audit worK for this teporL or for the opinions we have fornied.
Paul Johnson FCA, Senior Statlltory Auditor
for and on behalf of Robert Whowdl & Partnen LLP, Ststutory Auditor
Chartered Accountanls
Robert Whowell & ParÈners LLP
Westwood House
78 Loughborough Road
Quorn
Leicestershire
LE12 8DX
Robert Fthowell & Parlners LLP is eligible lo aci as an al￿110r in lernis ofseclion J212 ofihe CompaniesAci 2Q06

The Ken & LyL￿e Morrison Ch8rAtable Trnst
Trustee5' report aDd finon¢Ral st21ements
5 April 2024
Statement of fmancial activities
for ihe yeai. ended5 April 2024
Unreslri¢ted
fund5
Endowment
funds
Tothl
2024
Total
2023
￿￿e
Income and endowments frnm:
InvestrAents
Other incotne
539.401
1,638
539,401
1.638
576,701
l.664
Totsl income antl endowments
541,039
541.039
578.365
Exp¢nditure on:
ch￿1t&b]e Aaivities
Raising funds (investment ME￿agement)
B(19.109)
(66285)
(209,109)
(66,285)
(313,676)
(66,617)
Total ¢xp¢nditur¢
(275J94)
{275,394)
(380.293)
N¢t gain￿{lo￿S) on investments
8,423
1.193241
1,201,664
(1.443,589)
Net incomel(expendituYe)
274.1168
1,193.241
1.467,309 (1.245.517)
Net movement in fvnds
274.1
1,193241
1,467J09 (1.245.517)
Re¢on¢llla¢ioA of funds
Funds at 6 April 2023
1,433244
Is,236￿54
1&670,098
17,915.615
Funds at S April 2•24
1,707J12
16,4311.095
18,137,407
16,670,098
The notes on pages 12 to 16 forni part of these financial statements.
Regtstered number 1125586 1 S ApTiI 2024

The Ken & LyJ]ne MorrÈson Charitable Trnst
Trustees. report and fm8ncial statements
5 April 2024
Balance sheet
as at 5 April 2024
Nthe
2024
2023
Fixed assets
Investments
Cash investrnents
16,999,912
414,087
14.673.245
1,437,466
17,413,999
16.110.711
Current *$$tts
CaslL at bynk And in hand
Unpresented income
Incorne refi￿d due
744602
646.131
1,638
1,521
74A240
647,652
Creditors: amounts falling due within one year
(22,832)
(88.265)
N¢t ¢urrent aSStts
723,4(18
559.387
N¢t assets
18,137807
16.670.098
The thnds of ihc charity
Endowmeftt fimd5
Unrestric*d fio)ds
16,430,095
1,71J7?12
15236,854
1.433,244
Total ¢hArity funds
18,137,407
16.670,098
The notes on pages 12 to 16 fonn part of these financial statements.
These financial statements were approved by the board of trustees. on S gett*ftJet &lland were signed on its
behalf by:
Lady Lyntle Christina Morrison
Truslee
Mrs Andrea Shelley
Truslee
R¢8iSteffd nUM￿r 1125586 15 April 2024
10

The Ken & Lynne Moryison Charitsble Trust
TTUStees' Ye￿rt and fmancial staiernent5
5 April 2024
Cash Flow Statement
foryear ended 5 April 2024
Nole
2024
2023
Cash flows from operating aetiviti
Net income/(expendtture) for the reporting puiod
Adjustments for..
(Gainsylosses on investments
Dividends. interest from investments
(Decrease)fincre8se in creditors
(Increase}Id¢cr¢age in debtors
1,467J09
(1.245.517>
(1,201,664)
(541,039)
(65,433)
(1171
1,443,589
(578,365>
52,801
5.161
Net CAsh used in tsperatittg *¢tivities
(341J.944)
(322,331)
Cash flowg from investing gCtivitie¥
Dividends. interest from inv¢slm¢nts
Net proceeds from salel(purchases) of investments
541,039
{1,125,003)
578.365
(302.447)
Net t#sh provided by investing aetivities
N¢1 eash provided byl(us¢d in) fift•n¢inE getivitles
(583,964)
275.918
Change in ¢ash and ¢ash equivalents in the year
Cash and c￿h equivalents ai the beginnÉng of the year
(924,908)
2,083,597
(46,413)
2,130.010
Cgsh and t#sh Èquivalents xt tbe end of tb¢ yur
1,158.689
2,083,597
Cth inveslrnents
Cash at bank and in hand
414,087
744602
1,437,466
646.131
Cash and ¢Ash equivalents at the end of the year
1,158,689
2.083,597
The notes on pages 12 to 16 form part of these financial slatements.
Regist¢red nutnber 112558615 April 2024
11

The Ken & Lynne Mofrison ChArttable Trust
Truste¢s' ￿pOrt and fJnBncial statements
5 April 2024
Notes
(fOr￿1ngpQrt oflhefinancial statements)
Accounting polici
The following accounting policies hav¢ been applied consistently in dealing with items which are considered
material in relation to the TTUSt's financial staiements.
Bwis ofpreparntloft ond assessment ofgolng concern
The Trust is a public benefit entity.
The financial statements have been prepared under the historical cost convenlion. as rnodified by the
revaluation of investments to market value and are in accordan¢e with Accounting and Reporting by
Charities: Statement of Recommended Practice appliable to charities prep8ring their accounts in accordonce
with the Financial Reporting Standard applicable in the UK and Rcpubli¢ of Ireland (FRS 102) (effective I
January 2019) ('the SORP,), the Charities Act 2011 and applicable United Kingdom accounting standards.
The financial stslemenls have be¢n prepared to give a 'trne and fair, view and have departed from the
Charities (Accounts and Reports) Regulations 2008 only to the ¢￿ent required to provide a 'tNe and fair
view.. This departure has involved following Accounling and Reporting by Charities preparing their accounts
in accordance with the Financial Reporting StaF]dard appli¢able in the UK and Republic of Ireland (FRS 102)
issued on l January 2019 rather than the Accounting #nd Reporting by Charities: Statement of ReGornmended
Practice effective from l April 2005 which has since been withdrawn.
The Trustees consider that there are no material uncertainties about the Trust's ability to continue as a going
concern. The most significant are& of risk in this year and for the futsre is around the valuation of ihe
investments. This however is not a going concern risk as there is a significant net asset balance at year end
and the t￿Ste¢S have control over the level of grants the Trust awards.
Incoming resources
Investment income and bank interest is accounted for on an accrual basis.
Resources Qrpended
All expenditure is accounted for on an accru&ls basis and hgs been listed under headings that aggregaie all
the costs directly attributsble to that activity. Where costs (including overhead5) rannot be directly attributed
they have been allo¢ated to a¢livities on a basis consistent with the use of resources and the tirne spent on
those activities.
Governance costs are those incurred in the governance arran8ement of the charity which relate to the general
running of the charity as opposed to those costs a5so¢iated with generating funds or Charitable activities and
its costs are primarily associated with constitutional and statutory requirements.
royalion
The Ken & Lynne Morrison Charitable Tn￿ is considered to pass the tests set out in Paragraph I Schedule
6 Finan¢e A¢t 201 l and therefore it meets the definition of a charitable trust for UK income tax pU￿se5.
Accordingly, the charity is potentially exempt from tsxation in respect of income or capital gains received
within categories covered by Part 10 Income Tax Act 2007 or Section 256 of the Taxalion of Chargeable
Gains Act 1992. to the extent that su¢h in¢ome or gains are applied exclusively to Charitable purposes. No
tax charge ha5 arisen in the year (2023.. £nil).
Registered number 1125586 15 April 2024
12

The Ken & Lynne Morrison Charitsble ￿n￿t
Trustees. r¢port and fTnaDcial ststemeThts
5 April 2024
Notes (continued)
Accounting policies (conlinued)
Cash and cash equivalents
Cash at bank and in hand is held to meet the grant moking activity and the day to day running oosts of the
charity.
Cash investments are cash balances held within the Trust's investment portfolio.
Creditors
Creditors are amounts owed by the charity. They are measured at the amount that the charity expects to have
to pay to settle the debt.
Funds oeeounllng
The expendable endowment fund has been established by the donor to generate in¢ome lo be used for the
objectives of the Trust and therefore will represent acore fund for continuing activities. However. the trustees
do have the option (if needed) to spend the expendable endowment fund as and when required. The incoming
resources from endowment hnds ar¢ unrestrid¢d. Th¢ capitsl appreciation of these funds remain endowed
fund5. Unrestricted ￿ndS are available for the use at the discretion of the trustees in fi￿her2nce of the
¢haritAble objectives of the Trust.
FLred ￿Se1 Investthenls
Investments are stated at market value being the bid price or the last traded price at the date of the net assets
ststement.
The realised and unrealised gains on investments are reflected in the statement of financial activities as they
arise. Realised gains and losses on investments are calculated as the difference between sales proceeds and
opening market value (purchase dale if laler). Unrealised gains and losses are calculated a5 the difference
between the market value at the year end and opening market value (or purchase dale if later). Realised and
unrealised gains are separated in th¢ notes to the a¢Munts.
Expendlture on eharltable aetlvltles
2024
2023
Grants (note 3)
Governgnce costs (nole 4)
201,003
8,106
307,016
6.660
209,109
313.676
Registered nurnber 1125586 15 April 2024
13

The Ken & Lynne Morrison Charitable Trust
Trustee5' report and f￿a￿]81 statements
S April 2024
Notes (continued)
3 Grants payY4ble
Donation5 totalling £201,003 (2023: £307.016) were made during the year.
There were 4 grants made to organisations during the year as detailed below:
2024
Centrepoint
Bradford Literabjre Festival
M8rie Curie
Bradford In¢lv5ive Disability Service
IoD,000
5tb,000
48,0(JO
3,1103
201,003
GovernAnee costs
Management and administration costs:
2024
2023
Audit fees
Accounting advi￿ and other professional fees
3.000
3,660
3,726
8,1(16
6,660
Trustses, remuner8tion gnd expenses
No remuneration or expenses were paid to the trustees for their service5 during the year (2023.. £nil).
No staff were employed by the Trust during the year (2023.. none).
Registered number 1125586 15 April 2024
14

The Ken & Lynne MorrisrJD Charitable Trust
Tr¥Jsk£s' report and financial stat¢m¢nts
S April 2024
Notes (con¢inuedJ
Listed Investments
2024
2023
Investments at market Yglue at 6 April 2023
14ffj73.245
15.814.387
Add: inveslments purchased in the year (at ¢ost)
2,801,225
1,849,750
DeducÉ: inv¢sth)¢nts sold in lh¢ year (at market value)
{1,667.799)
(1,653.750)
Deducl: investments purchased and sold during the year
(60.692)
Net g8inl(t055) on revaluation
1.193,241
(1.276,450)
Investments al mArket value gt 5 April 2024
16,999,912
14.673.245
Proceeds of investtnents sold in the year
1,676222
1,547.303
Deduct: investments sold in the Ye￿ (at maTket V￿Ue)
(1,667,799)
(1,653,750)
Deduet: investments PUTchased and sold during the year
(60,692)
R￿liSed ViDI(ioss)
8,423
(167,139)
Net gainl(]oss) on revaEuation
Realised 88]￿00S$)
1,193241
8,423
11,276,450)
(167,139)
Gglnsl(los$ts) OD Investments
1.201,664
(1,443,589)
7 Creditors: amounts fAlling due within one year
2024
2023
Accruals- tnvestrnent managers fees
Accruals- Audit and accountancy fee
A￿rual$- Donations made
15J26
7506
16.989
6,660
64,616
22.832
88.265
Registered number 1125586 15 April 2024
15

Th¢ K¢D & LyDn¢ MoThison Chuitable Trust
TTUStees' report and fithancial stalernents
5 April 2024
Notes (continued)
Analysis of net Assets between funds
The reserves of the charity c?￿ be allocated to net assets as follows:
Expendable
TotAI
2024
Unres¢ri¢ted
2023
Investsnents at m8rkei va]ue
CLsh at bank and in I￿nd
Other net current liabilities
16.430,095
569,817
1.158,689
121,194)
16.999,912
1,158,689
(21,194)
14,673,245
2,083.597
(86.744)
16,430.095
1,707J12
18,137,407
16.670.098
Registered numkr 1125586 15 April 2024
16